Ceremony Honors Nez Perce Chief Joseph Featured on New U.S. Treasury Inflation-Indexed I Bond

FOR IMMEDIATE RELEASE

April 23, 1999

The U.S. Treasury's Bureau of the Public Debt today unveiled the new Chief Joseph $200
denomination series I inflation-indexed savings bond at a ceremony in Lewiston, Idaho. The
new $200 I Bond will go on sale May 1, 1999. The bond features a portrait of Chief Joseph and
a background vignette of him mounted on an Appaloosa horse, known for being bred by the Nez
Perce. Participating in today's event are Van Zeck, Commissioner of the Public Debt from
Washington, D.C., Governor Dirk Kempthorne of Idaho, and Samuel Penney, Chairman of the
Nez Perce Tribal Executive Committee.

Chief Joseph is one of eight distinguished Americans featured on the new I Bond. Though he
consistently opposed war, when conflict became inevitable, Chief Joseph and other leaders led
the Nez Perce on a courageous retreat in 1877 for more than a thousand miles through Montana
and Idaho. After a five-day battle during freezing weather conditions with no food or blankets,
only 30 miles from safety at the Canadian border, he surrendered out of concern for the women
and children. In his final years, Chief Joseph spoke eloquently of the injustice of United
States policy toward his people and held out hope that one day freedom and equality would come
for Native Americans.

“Chief Joseph's strong leadership and his belief in what was right for Native Americans
represents an important part of this country's history and diverse strength,” said Commissioner
Zeck. “We are proud to be able to honor the country's past and at the same time help Americans
save for their future.”

Treasury's new inflation-indexed
savings bond is designed for Americans seeking to protect the purchasing power of their
investments from inflation. I Bonds offer a guaranteed real rate of return over and above
inflation. I Bonds are sold at face value -- you pay $200 for a $200 bond --and they grow in
value with inflation-indexed earnings for up to 30 years. The I Bond earnings rate is a
combination of two separate rates: a fixed rate of return, currently 3.3%, which remains the
same throughout the life of the bond and a variable semi-annual inflation rate based on
changes in the Consumer Price Index for all urban consumers announced every six months.

Honored on the eight I Bond denominations are the following great Americans:

Spark Matsunaga ($10,000) - former U.S. Senator & Congressman, World War II hero.

The $200 and $10,000 I Bond denominations go on sale May 1, 1999; the other six denominations
went on sale September 1, 1998. I Bonds can be purchased from financial institutions, through
a payroll savings plan where you work or the new U.S. Savings Bonds EasySaver Plan. For more
information on I Bonds and other new initiatives in the savings bond program visit:
www.savingsbonds.gov.